State Laws on Tracing Determine Whether Tax Refunds Are Exempt
Differing state laws govern the exemption of tax refunds for individuals.
Reperfecting a Mortgage Isn’t Grounds for a Fraudulent Transfer
Mistakenly cancelling a mortgage can result in a preference but not a fraudulent transfer if the cancellation is later rescinded.
Third-Party Releases Approved Without Awaiting the Outcome of Merit Management
Third-party releases would have been approved even if there were no ‘safe harbor’ defense.
Transferring COMI to Avoid Liquidation Is Ok in Chapter 15
New York offers a chapter 15 home for foreign companies hoping to avoid liquidation.
Emotional Distress Damages Awarded for Civil Contempt on Automatic Stay Violation
Philadelphia judge socks the city’s parking authority for impounding a debtor’s car twice.
Receivership May Not Preclude a Board’s Ability to File Bankruptcy
A receiver who is not ‘disinterested’ can justify putting a company in bankruptcy.
PROMESA Didn’t Enjoin Damages Suit Against Puerto Rico Government Official
Courts are reluctant to employ PROMESA as a shield against suits involving government administration.
Reversing Itself, Fifth Circuit Panel Reinstates Finality to Exemptions in Chapter 7
After rehearing, the Fifth Circuit rediscovers the snapshot rule by giving finality to exemptions in chapter 7.
Courts Can’t Sanction Debt Collectors for Filing Stale Claims after Midland Funding
The Code or rules must change to bar debt collectors from filing stale claims, Judge Dow says.
Ninth Circuit Splits with Seventh on Sovereign Immunity and Derivative Suits by a Trustee
Ninth Circuit criticizes the Seventh for making the sovereign immunity waiver meaningless for Section 544(b)(1) suits.